News

TUCSON, Arizona — Will White and John Carroll with Land Advisors Organization (LAO) closed this week on $12.61 million in land sales in Rancho Vistoso and Gladden Farms in Northwest Tucson submarket.

A New York-based land investment REIT, JEN Arizona 32, LLC and affiliate TerraWest Communities (Mike Jesberger) purchased Blocks 5H and 5I (190 Acres) at Rancho Vistoso Neighborhood 5 in Oro Valley for $6.3 million. The buyer plans to plat the parcels for a mix of production lot sizes. The Seller was VP Loan II, LLC.

Richmond American acquired 19 paper lots in Rancho Vistoso Neighborhood 10T for $850,000 ($44,737 perplatted and engineered lot). The 19 lots are a Vistoso infill parcel sold by Tempe-based, Grace Holdings, LLC (Bernadette Wolfswinkel, manager).

“Rancho Vistoso goes

MARANA, ARIZONA — Meritage Homes purchased portions of blocks 40 and 41 at Gladden Farms Master Planned Community in Marana for $1.4 million ($60,000 per acre) from Crown West Realty (Dean Wingert, member) the developer.

The 23 acres sold with preliminary plat for 119 – 45’ x 120’ SFR lots.

Gladden Farms is a 1,350-acre master planned community in northern Marana, just west of Interstate 10 between Tangerine and Moore Roads. With four homebuilders active in the community, it is one of the most active communities in the Northwest submarket.

Meritage bought its first block of 89 platted lots at Gladden Farms in December 2015.

Will White and John Carroll of Land Advisors Organization in Tucson handled the transaction and have the marketing assignment on

TUCSON, ARIZONA — DR Horton purchased 56 partially completed lots at Farm Field Five for $2.72 million ($48,568 per lot). DR Horton will be joining LGI Homes at Farm Field Five in North Marana, a 224-lot subdivision, a portion of Vanderbilt Farms. Dolphin Partners of Irvine, California was the seller.

KB Home, Lennar, Richmond American, and Meritage all continue to build at Gladden Farms. DR Horton has also started at Fianchetto Farms in North Marana.

There were no brokers involved in this transaction.

A.F. Sterling Home Builders, Ltd purchased four semi-custom home lots from Diamond Ventures at Stone House in Sahuarita for $267,000 ($66,750 per lot). Each are half-acre + lots. A.F. Sterling has purchased 19 lots to-date in this community.

Two rolling option closings

MARANA, Arizona — Richmond American Homes and Lennar Homes teamed up to buy Block 35 and 39, the first sales in Gladden Farms II. Richmond acquired 64-lots for $3,456,000 and Lennar purchased 59-lots for $3,186,000, or $54,000 per finished lot.

Both builders are currently building in Gladden Farms I, to the west of the new Gladden Farms II. See Richmond and Lennar at the Homestead at Gladden Farms website.

Will White and John Carroll of Land Advisors Organization in Tucson handled these transactions and has the marketing assignment on all of Gladden Farms.

“This is an important and exciting event because it is the first lots purchased in Gladden Farms II. This closing will help kick off construction of the next phase of the community, according to

Petrus Partners Sells 123 Finished Lots in Marana, AZ

Marana, AZ – Petrus Partners Ltd. (“Petrus”), in association with its subsidiary Crown West Realty (“CWR”) of Tucson, AZ (Dean Wingert, Vice President), has sold 123 finished lots in Phase II of the Gladden Farms master planned community for $6.6 million. Lennar and Richmond American purchased the lots. Will White of the Land Advisors Organization represented the seller.

The Gladden Farms master planned community has over 1,480 constructed single-family homes within the completed Phase I which is fully committed to national homebuilders including Meritage, Richmond American, Lennar, and KB, all of which have active subdivisions open for sale.Phase I will have a total of 1,747 residential units upon build-out. Commercial parcels, totaling 42 acres, have been

Gold Canyon, AZ – Petrus Partners Ltd. (“Petrus”), in association with Voyager Investment Properties, LLC (“Voyager”) of Scottsdale, AZ (Mark Voigt and Dave Rogers, Principals), has sold 376 finished lots in Phase I of the Peralta Canyon master planned community for $23.2 million. Six leading homebuilders including Lennar, Cal-Atlantic, Gehan Homes, Beazer Homes, David Weekley Homes, and KB Home purchased finished lots in the master planned community between June 2017 and February 2018. Bret Rinehart and Ryan Semro of the Land Advisors Organization represented the seller.

Peralta Canyon is located in Gold Canyon proximate to Highway 60, 14 miles from Mesa and 18 miles from Phoenix Mesa Gateway Airport. Major retailers, restaurants and services are within a 10-minute drive, with a health club and multiple

TUCSON, Ariz., Feb. 27, 2018 /PRNewswire/ -- Richmond American Homes of Arizona, Inc., a subsidiary of M.D.C. Holdings, Inc. (MDC), is pleased to announce the opening of Santa Rita Ranch III in southeast Tucson. Prospective homebuyers and area agents are invited to attend the community's Grand Opening event on Saturday, March 10, 2018, from 12 to 4 p.m.

ABOUT SANTA RITA RANCH III

Located next to the stunning Santa Rita Mountains for which it was named, Santa Rita Ranch III offers five inspired ranch and two-story floor plans with incredible included features, such as premium hardwood cabinetry and GE®appliances, as well as hundreds of exciting personalization options. New homes at the community feature three to five bedrooms and approximately 1,810 to 2,910 square feet, from

TUCSON, Arizona — Richmond American (NYSE: MDC) and Lennar Homes (NYSE: LEN) are the first two homebuilders to enter Santa Rita Ranch Phase III. Each builder purchased 68 SFR lots recently from Crown West Realty (Dean Wingert, VP) for a finished cost of $50,750 per lot, or $6.9 million.

The Santa Rita Ranch Specific Plan was first approved by the County in 1988 for 2,435-acres and up to 5,307 units. Stanley P. Abrams and Santa Rita Partnership were the applicants. Crown West acquired its portion known as Santa Rita Ranch III in 2013, a total of 182 acres and 330-lots being developed by Crown West.

Nestled into the foothills of the scenic Santa Rita Mountains. “Each additional phase of the community climbs higher into the

By Murphy Woodhouse Arizona Daily Star - Updated Oct 25, 2016

A 645-acre residential and commercial development south of Valencia Road near Ryan Airfield, which was idled during the Great Recession, has been revived.

The Pomegranate development could have as many as 2,658 homes in an area that county officials say has increasing interest.

“We are seeing growth out there,” said county planning official Chris Poirier.

Residential development trends have also been positive across Tucson, which has seen foreclosures fall and new home permits rise over the last year, the Star reported in July.

Dean Wingert, of Crown West Land Group, which purchased the foreclosed properties from lenders, said building at several nearby subdivisions, as well as a large land purchase in the area by

Just as the Gladden Farms Elementary School opened for classes this week, Lennar Homes purchased 60 SFR lots at Homestead at Gladden Farms for $2.64 Million ($44,000 per lot) from Crown West Realty (Dean Wingert, member). Richmond American Homes and Lennar will both be building at this subdivision, called Homestead.

Gladden Farms is a 1,350-acre master planned community in northern Marana, just west of Interstate 10 between Tangerine and Moor Roads. There are currently 1,300 SFR homes built in Gladden Farms and 277 lots currently under development. With four homebuilders active in the community, makes it is one of the most active communities in the Northwest submarket.

KB Homes at Somerset at Gladden Farms is down to its last five lots of 148 homesites. Meritage